Welcome
Sherry HoppmannDirector of Sales & Marketing
● Introductions● Copeland Insurance Group Presentation
HistoryOpportunityAffordable Care ActSupportContracting
● Closing Remarks● Questions & Answers
Agenda
Copeland Insurance Group
Founded in 1962, Copeland Insurance Group is a Field Marketing Organization (FMO) focused on bringing the
most competitive products to market with great people like you!
Our area of expertise is the Medicare market. It’s our passion to pass this experience on to our agents and
help them grow a successful business.
We go the extra mile to help producers understand the industry with training, market intelligence, and one on
one support.
FAST FACTS:● Largest FMO in Texas● Corporate Office: Longview, Tx● National Offices
Copeland Insurance Group
OUTSTANDING OPPORTUNITY
Beginning January 1st, 2011, every single day more than 10,000 “Baby Boomers” will reach the age of
65.
This will continue for the next 19 years!
Medicare Advantage Opportunity
How do you view Medicare Advantage plans? At Copeland Insurance Group, we view Medicare Advantage as an opportunity
for agents to work in a market that enhances your client base.
The senior population is expected to grow to over 70 million people over 65 by 2020.
Out of approximately 9 million dual eligible individuals nationally, only 11% are enrolled in a DSNP health plan.
› Nearly 60% of Dual Eligible citizens are 65+ years old Clients have more options available today than ever before.
Are you offering them all available options?
Medicare Advantage is your first step!
In March 2010, President Obama signed comprehensive health reform, the Patient Protection and Affordable Care Act (ACA), into law.
The law makes preventive care—including family planning and related services—more accessible and affordable for many Americans. While
some provisions of the law have already taken effect, many more
provisions will be implemented in the coming years.
What is the Affordable Care Act?
Big Picture
● ACA rolls out in phases that began in 2010 and continues through 2019
● Provisions
Standards for minimum health benefit plan offerings
State based Health Benefit Exchanges
Mandates for employers and individuals to provide/purchase coverage
Premium Credit or cost share subsidies to qualified individuals
Taxes and Fees
● Provisions Cont’d
Requirements that insurance companies spend a certain percentage of premium dollars on patient care
Certain preventative care services covered without cost sharing (out of pocket expenses)
Insurance market reforms
Expanded appeal rights for consumers
Changes to Medicare reimbursements
Big Picture
Tier Levels: Platinum – 90% coverageGold – 80% coverageSilver – 70% coverageBronze – 60% coverage
Tier Levels: Platinum – 90% coverageGold – 80% coverageSilver – 70% coverageBronze – 60% coverage
● Exchange plans offered in Tier formats Bronze plans will have the lowest monthly premium, but cost shares will be more when health care services are needed
Platinum plans will have highest monthly premium, but cost shares will be low
● Essential Health Benefits REQUIRED: Ambulatory patient services
Emergency services
Hospitalization
Maternity and newborn
Mental Health services
Prescription drugs
Rehab services
Labs
Preventative and Chronic Disease Management
Pediatric Services, including oral and vision care
Individual Mandate 2014 – Greater of $95 or 1% of annual income 2015 – Greater of $325 or 2% of annual income 2016 – Greater of $695 or 2.5% of annual income 2017 and beyond – Annual adjustments
Get coverage through their
employer
Get coverage through their
employer
Go uninsured and pay penalty
Go uninsured and pay penalty
Buy a plan through either:a) Individual marketb) Traditional market
Buy a plan through either:a) Individual marketb) Traditional market
AGENT COMPENSATION AGENT COMPENSATION POTENTIALPOTENTIAL
Affordable Care Act (Obamacare)Annual enrollment: October 15th ---- December 7th
ACA plans pay a 6% commission on a monthly basis. Commission is based on premiums before the tax credit is applied!
The average monthly premium per person is $328. *
The resulting monthly commission would be around $20-an annual commission of $240 per person!
If an agent assists 5 people per day with enrollment (many enrollments will be for families) during the 53 day AEP, the potential is approximately $64,000! *http://aspe.hhs.gov/health/reports/2013/MarketplacePremiums/ib_marketplace_premiums.cfm
But your income potential isn’t limited to the 53 day AEP.
In fact, there are 111444 SSSpppeeeccc iiiaaalll EEEnnnrrrooollllllmmmeeennnttt PPPeeerrriiiooodddsss for the
Affordable Care Act, giving YOU, the agent, an opportunity
to make commissions all year long!!
Don’t let the opportunity pass you by.
• Commissions paid directly from carrier• E&O provided at no charge• Flexible organization • Training for agents new to Medicare• Weekly sales improvement training • Local representative to help develop business
plan and market strategy • Access to Copeland Group marketing materials
Copeland Insurance Group Support
Marketing 101…
1. Leads Directly from Copeland› Strength of massive mail outs and recirculation of leads› Ability to create unique opportunities for lead distribution
2. Through MA plans› Coordinated group allows for MA generated lead distribution › Coordination of in-store marketing kiosks
3. Area Relationships with market› Churches › Pharmacies› Community groups, Senior Organizations
Questions to Consider
1. Partnerships rely on at least two people working together to accomplish a mission. What type of partnership are you currently in with your business partner?
2. Is your current partnership planning for the future and placing resources in your hands to help your business grow?
3. Do you get the support you need when you need it or when it is convenient to your “partner” organization?
4. Is your current partner helping you reach your goals?
Commission
• Medicare Advantage – New to MAPD - $400
• $200 in advance then $200 when CMS releases payment and confirmation that benifiary is new to MAPD.
– MAPD -> MAPD - $200– Renewals - $200
• Paid in 1/12 increments beginning 13 month• 5 year, 10 year , or lifetime Renewals
• Medicare Supplement– 13%-18% annualized premium– Paid in advance– Renewal commissions are typically paid
for 7 years.
APPLICATIONS SUBMITTED
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
TOTAL
11st year
commission: $408
$204 $204 $204 $204 $204 $204 $204 $204 $204 $204 $2,400
101st year
commission: $4,080
$2,040 $2,040 $2,040 $2,040 $2,040 $2,040 $2,040 $2,040 $2,040 $2,040 $20,400
501st year
commission:$20,400
$10,200
$10,200
$10,200
$10,200
$10,200
$10,200
$10,200
$10,200
$10,200
$10,200
$102,000
751st year
commission $30,600
$15,300
$15,300
$15,300
$15,300
$15,300
$15,300
$15,300
$15,300
$15,300
$15,300
$153,000
1001st year
commission $40,800
$20,400
$20,400
$20,400
$20,400
$20,400
$20,400
$20,400
$20,400
$20,400
$20,400
$204,000
MEDICARE ADVANTAGE POLICIES PAY RENEWALS FOR LIFE!
RENEWAL COMMISSION PROJECTIONRENEWAL COMMISSION PROJECTION
Based on current Medicare Advantage commission for initial enrollments (as determined by CMS)Commission rates may changeRetention will affect this projection
APPLICATIONS SUBMITTED ANNUALLY
2014 2015 2016 2017 2018 2019 2020 TOTAL
1 $278 $556 $834 $1,112 $1,390 $1,668 $1,946 $7,784
10 $2,780 $5,560 $8,340 $11,120 $13,900 $16,680 $19,460 $77,840
50 $13,900 $27,780 $41,700 $55,600 $69,500 $83,400 $97,300 $389,200
75 $20,850 $41,700 $62,550 $83,400 $104,250 $125,100 $145,950 $583,800
100 $27,800 $55,600 $83,400 $111,200 $139,000 $166,800 $194,600 $778,400
2014 RENEWAL COMMISSION PROJECTIONMEDICARE SUPPLEMENT POLICIES PAY RENEWALS FOR SEVEN YEARS
Based on Medicare supplement commission of 18% and $129/month premium
Commission rates may change Retention will affect this projection
Contract Today!
•You will be assigned a team to process your contracts and address your questions and concerns.
• Determine the carriers with whom you would like to contract; or we will make suggestions of plans that are beneficial for your specific market.
• Compose a written request for transfer from your current organizations. If you need an example of a written request, just let us know!
Closing Remarks
With over 15 nationwide offices, no other FMO does more to get your career started! We look forward
to working with you today!
Sherry [email protected]
Thank you.
Top Related